EXHIBIT 99.2

                         NOTICE OF GUARANTEED DELIVERY
                                With Respect to

                     CHIPPAC INTERNATIONAL COMPANY LIMITED
                   12 3/4% Senior Subordinated Notes due 2009

   This form must be used by a holder of 12 3/4% Senior Subordinated Notes due
2009 (the "Notes") of ChipPAC International Company Limited (the "Company"),
who wishes to tender Notes to the Exchange Agent pursuant to the guaranteed
delivery procedures described in the section of the Prospectus entitled "The
Exchange Offer--Guaranteed Delivery Procedures," and in Instruction 2 to the
related Letter of Transmittal. Any holder who wishes to tender Notes pursuant
to such guaranteed delivery procedures must ensure that the Exchange Agent
receives this Notice of Guaranteed Delivery prior to the Expiration Date of the
Exchange Offer. Capitalized terms not defined herein have the meanings ascribed
to them in the Letter of Transmittal.


 THE EXCHANGE OFFER WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON          ,
                 2000, UNLESS EXTENDED (THE "EXPIRATION DATE").


                      To: Firstar Bank of Minnesota, N.A.
                             (the "Exchange Agent")

  By Overnight Courier & By Hand up to      By Registered or Certified Mail:
 4:30 p.m. on the expiration date only:



    Firstar Bank of Minnesota, N.A.         Firstar Bank of Minnesota, N.A.
         101 East Fifth Street                   101 East Fifth Street
     St. Paul, Minnesota 55101-1860          St. Paul, Minnesota 55101-1860
       Attn: Frank P. Leslie, III              Attn: Frank P. Leslie, III

                      Facsimile Transmission: 651-229-6415

                       Confirm by Telephone: 651-229-2600
                           Attn: Frank P. Leslie, III

   DELIVERY OF THIS FORM TO AN ADDRESS, OR TRANSMISSION VIA FACSIMILE, OTHER
THAN AS SET FORTH ABOVE WILL NOT CONSTITUTE VALID DELIVERY.

   This form is not to be used to guarantee signatures. If a signature on the
Letter of Transmittal is required to be guaranteed by an "Eligible Institution"
under the instructions thereto, such signature guarantee must appear in the
applicable space provided in the signature box on the Letter of Transmittal.


LADIES AND GENTLEMEN:

   The undersigned hereby tenders to the Company, upon the terms and subject to
the conditions set forth in the Prospectus and the related Letter of
Transmittal, receipt of which is hereby acknowledged, the principal amount at
maturity of Notes set forth below pursuant to the guaranteed delivery
procedures set forth in the Prospectus and in Instruction 2 of the Letter of
Transmittal.

   The undersigned hereby tenders the Notes listed below:




 Certificate Number(s) (if known) of Notes
                or Account                  Aggregate Principal Aggregate Principal
Number at the Book-Entry Transfer Facility  Amount Represented    Amount Tendered
                                                          
- -----------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------




                            PLEASE SIGN AND COMPLETE

- --------------------------------------------------------------------------------

 Signature of Registered Holder(s) or    Date: ________________________ , 2000
 Authorized Signatory: _______________   Address: ____________________________
 -------------------------------------   -------------------------------------
 -------------------------------------   Area Code and Telephone No.: ________
 Name of Registered Holder(s): _______
 -------------------------------------
 -------------------------------------



    This Notice of Guaranteed Delivery must be signed by the Holder(s)
 exactly as their name(s) appear on certificates for Notes or on a security
 position listing as the owner of Notes, or by person(s) authorized to become
 Holder(s) by endorsements and documents transmitted with this Notice of
 Guaranteed Delivery. If signature is by a trustee, executor, administrator,
 guardian, attorney-in-fact, officer or other person acting in a fiduciary or
 representative capacity, such person must provide the following information:

                       Please print name(s) and address(es)

 Name(s): ____________________________________________________________________
 -----------------------------------------------------------------------------
 Capacity: ___________________________________________________________________
 Address(es): ________________________________________________________________
 -----------------------------------------------------------------------------
 -----------------------------------------------------------------------------


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                                   GUARANTEE

                    (Not to be used for signature guarantee)

    The undersigned, a firm which is a member of a registered national
 securities exchange or of the National Association of Securities Dealers,
 Inc., or is a commercial bank or trust company having an office or
 correspondent in the United States, or is otherwise an "eligible guarantor
 institution" within the meaning of Rule 17Ad-15 under the Securities
 Exchange Act of 1934, as amended, guarantees that either the Notes tendered
 hereby in proper form for transfer (or confirmation of the book-entry
 transfer of such Notes into the Exchange Agent's account at the Book-Entry
 Transfer Facility as described in the Prospectus under the caption "The
 Exchange Offer--Guaranteed Delivery Procedures"), together with a properly
 completed Letter of Transmittal (or facsimile thereof) (or, in the case of a
 book-entry transfer, an Agent's Message) and any other required documents
 will be received by the Exchange Agent by 5:00 p.m., New York City time, on
 the third New York Stock Exchange trading day following the Expiration Date.

 Name of Firm: _______________________

                                         -------------------------------------
                                                 Authorized Signature

 Address: ____________________________

                                         Name: _______________________________

 -------------------------------------

                                         Title: ______________________________

 Area Code and Telephone No.: ________
                                         Date: ________________________ , 1999


   DO NOT SEND NOTES WITH THIS FORM. ACTUAL SURRENDER OF NOTES MUST BE MADE
PURSUANT TO, AND BE ACCOMPANIED BY, AN EXECUTED LETTER OF TRANSMITTAL.

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                 INSTRUCTIONS FOR NOTICE OF GUARANTEED DELIVERY

   1. Delivery of this Notice of Guaranteed Delivery. A properly completed and
duly executed copy of this Notice of Guaranteed Delivery and any other
documents required by this Notice of Guaranteed Delivery must be received by
the Exchange Agent at its address set forth herein prior to the Expiration
Date. The method of delivery of this Notice of Guaranteed Delivery and any
other required documents to the Exchange Agent is at the election and sole risk
of the holder, and the delivery will be deemed made only when actually received
by the Exchange Agent. If delivery is by mail, registered mail with return
receipt requested, properly insured, is recommended. As an alternative to
delivery by mail, the holders may wish to consider using an overnight or hand
delivery service. In all cases, sufficient time should be allowed to assure
timely delivery. For a description of the guaranteed delivery procedures, see
Instruction 2 of the Letter of Transmittal.

   2. Signatures on this Notice of Guaranteed Delivery. If this Notice of
Guaranteed Delivery is signed by the registered holder(s) of the Notes referred
to herein, the signature must correspond with the name(s) written on the face
of the Notes without alteration, enlargement, or any change whatsoever. If this
Notice of Guaranteed Delivery is signed by a participant of the Book-Entry
Transfer Facility whose name appears on a security position listing as the
owner of Notes, the signature must correspond with the name shown on the
security position listing as the owner of the Notes.

   If this Notice of Guaranteed Delivery is signed by a person other than the
registered holder(s) of any Notes listed or a participant of the Book-Entry
Transfer Facility, this Notice of Guaranteed Delivery must be accompanied by
appropriate bond powers, signed as the name of the registered holder(s) appears
on the Notes or signed as the name of the participant shown on the Book-Entry
Transfer Facility's security position listing.

   If this Notice of Guaranteed Delivery is signed by a trustee, executor,
administrator, guardian, attorney-in-fact, officer of a corporation, or other
person acting in a fiduciary or representative capacity, such person should so
indicate when signing and submit with the Letter of Transmittal evidence
satisfactory to the Company of such person's authority to so act.

   3. Requests for Assistance or Additional Copies. Requests for information
and additional copies of the Prospectus may be directed to the Exchange Agent
at the address set forth on the first page of this Notice of Guaranteed
Delivery. Holders may also contact their broker, dealer, commercial bank, trust
company, or other nominee for assistance concerning the Exchange Offer.

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